PHR Prep - UNIT 1 - Business Management & Strategy

A measure that precedes, anticipates, or predicts future performance.

• Lagging indicator

• Predictive indicator

• Leading Indicator

• Performance indicator

An analysis that examines the political, economic, social, and technological factors in an organization's environment.

• Competitor Analysis

• Regression Analysis

• SWOT Analysis

• PEST Analysis

The foundation beliefs that impact how people think about and respond to organizational events, but which are mostly subconscious.

• Shared Assumptions

• Shared Norms

• Code of Ethics

• Organizational Culture

The authority to make decisions and to direct the performance of subordinates in production, sales, or finance-related activities.

• Functional Authority

• Line Authority

• Centralized Authority

• Ultimate Authority

The process of collecting HR metrics and presenting them to managers in a useful format. Sometimes referred to as an HR scorecard.

• HR Metrics

• HR Scorecard

• HR Dashboard

• HR Competencies

An organization which has strategic corporate units in multiple countries that interact both with the headquarters and with each other.

• Global Firm

• Global Organization

• Global Unit

• Global Corporation

A human resource manager who is required to understand all of the major personnel functions and how they interact with other business functions.

• Human Resource Manager

• Human Resource Specialist

• Human Resource Administrator

• Human Resource Generalist

Exists when the relationship between the human resource department and the line managers is one of providing advice and counsel and when the authority for deciding what to do is shared.

• Control Role

• Service Role

• Advisory (or Counseling) Role

• Change Agent Role

A plan that describes expected income and expenses over a period of time.

• Cash Flow Statement

• Business Plan

• Budget

• Balance Sheet

Persons who are not employed but who are available for work.

• Unemployed

• Temporary Workers

• Workforce

• Labor Pool